Compare the available options before you decide to purchase pet insurance. Below is a table that will help you get an idea of the offerings from each company. Particularly, you should pay attention to rates and coverage options. This will help you find the right insurance for your dog or cat.
Rates
Prices for pet insurance will vary depending upon the age of your pet, as well as the level of coverage that they need. Some providers charge more for older pets because they are more prone to accidents and illnesses. Pre-existing conditions may not be covered by some policies, and older pets may be rejected entirely. Before you buy a policy, make sure to inquire about any discounts or benefits offered by your insurance company. A multi-pet discount is also possible.
Multiple studies have been published that compare the rates of pet insurance policies. One study revealed that cats tend to be less expensive than dogs. The study found that cats visit the vet less often than dogs, and are therefore more affordable. It is important to note that there are other factors that can affect the rates.
Optional coverage
Consider the fact that not all plans offer the same level of coverage when comparing pet insurance options. While some companies provide comprehensive coverage for all medical expenses, others only offer coverage for a select few health conditions. A lot of companies require you to pay a deductible. Deductibles can range from $100 to $500, so it's important to know which is best for you and your pet.
The cost of veterinary services and the number covered by pet insurance are also important factors to consider when comparing different options. These policies cover only accidents and are generally less expensive than those which cover all illnesses. However, accident-and-illness policies are more comprehensive and include most procedures and vet visits.
Deductibles
The deductible is an important aspect to consider when searching for pet insurance. Different companies may have different deductibles. Some companies offer $0 deductibles, while others require you make a payment of up to $1000. The amount you decide to pay depends on your budget as well as the age of the pet.
There are two options: an annual deductible and a per-condition one. The former is easier to manage and best fits most pet owners. The latter requires that you keep track of all expenses by date and condition. Therefore, your deductible for a new condition may be different every time. It may also take more time before your insurance provider reimburses you.
Waiting periods
It is important that you consider waiting periods when you choose a pet policy. These are required by the insurer to verify that your pet's health is good enough to be covered. A policy's waiting period is usually 30 days. But, this can vary. Some insurers may have shorter waiting times, while others may need a longer one. Trupanion has a 30-day waiting list for sickness coverage.
Although waiting periods for pet insurance coverage can vary, there are some conditions that are never covered. Many policies require a waiting period to cover certain diseases like cruciate ligament injuries. A dog suffering from hip dysplasia might have to wait longer than a dog suffering from cruciate ligament injury.
Percentage of reimbursement
The reimbursement percentage of your pet insurance policy could affect the total cost. Some companies have higher reimbursement levels than others. Your insurance will pay 80% of covered expenses if it has a reimbursement percentage of 80%. This means that if your dog is injured, you'll only be responsible for paying $200 out of your own pocket. But, if your pet has a chronic condition that needs constant care, you may have to pay more.
In general, pet insurance policies have a reimbursement percentage of between 80% and 90%. But, higher reimbursement percentages will mean that your plan is more costly. In addition, you must pay a deductible every time you submit a claim. The most commonly used deductible amounts for claims are $100, $200, $500.